Name: 

Strategy is the overall purpose and direction of the organization that is developed based on understanding the resources available to the firm plus the challenges and opportunities occurring in the environment that the firm is operating in.

A typical mission statement provides very specific operational guidelines, such as "It is the intention of the McGuire Packing Company to decrease ultraviolet tolerance of the plastics used in packaging its products so that they will degrade rapidly on exposure to sunlight."

Knowing the customer in a strategic sense means not only knowing all you can about the customer, but knowing the customer in the context of all the environmental factors that shape the market you are doing business in.

The first step of the strategic marketing planning process, situation analysis, actually consists of four types of analysis: internal, environmental, customer, and competitive.

Marketing objectives and strategies flow directly from the corporate objectives and strategies.

The third step of the strategic marketing planning process involves a back-and-forth assessment of the strengths, risks, and available opportunities facing the organization at the marketing department level.

The fourth step of the strategic marketing planning process, implementation and control, is optional.

A key question asked during the internal analysis portion of the situation analysis is whether the organization has, or can create, a sustainable competitive advantage.  A sustainable competitive advantage is some aspect of the product that will give it value in the marketplace that other companies cannot duplicate.

The product portfolio is the complete collection of products or services that a company produces.

According to the BCG growth-share matrix, a well-known approach to portfolio analysis, stars are products that have a dominant market share in a market with high growth.  They require little cash investment to maintain their market leadership positions.

Tools like the BCG growth-share matrix and the GE business screen provide insights that can be used a substitute for managerial ability.

SWOT analysis is an important strategic planning tool that helps planners compare internal strengths and weaknesses with external opportunities and threats.

For both larger and smaller organizations, there is often little practical difference between marketing planning and strategic corporate planning.

Positioning analysis allows marketers to identify areas of opportunity, such as a group of customers that is not being served by any of the competitors in the market.

A major objective in strategic planning is to create and sustain competitive advantage.

Marketing strategy cannot be developed without understanding the strategies being employed by major competitors.

Both profit-oriented firms and not-for-profit organizations state marketing objectives in terms of desired market share, or sales and profitability targets.

There are three basic strategies that a firm can pursue to achieve its objectives: growth, maintenance, and decline.

A marketing mix consists of the four main elements that should be addressed in marketing plans: product or service management, pricing, distribution, and communication.

Marketers who build their marketing plans around the marketing mix are ensuring that all of the possible elements that can be included in their plans are considered in a simple yet disciplined fashion.

Long-term organizational success results from

The development of corporate strategy is the responsibility of

PepsiCo is a diversified company that is in the beverage, snack food, and restaurant businesses. The beverage, snack food, and restaurant businesses are likely organized as different  _________________ within PepsiCo.

The corporate strategy is often expressed in a

The mission statement allows any manager or functional area in the organization to

Marketing strategy is based on _______________ and focuses on developing ____________________.

The four main steps in the strategic marketing planning process are

In a marketing plan for Petro-Canada, a determination that the brand's sustainable competitive advantage continues to be that it is the only major gasoline company with its head office in Canada is part of the _______________.

In a marketing plan for the Jaguar luxury sports car, a determination that this brand has a high market share in a low-growth market and is therefore a __________, belongs in the ______________ portion of the situation analysis.

If the Jaguar marketing plan included a conclusion that one of the brand's strengths is its long-standing reputation for quality, this conclusion would most likely be drawn as part of the plan's __________ analysis.

In the Jaguar marketing plan, as with all marketing plans, customer analysis provides a basis for

In the Petro-Canada marketing plan, where does the finding that a competitive brand of gasoline is losing market share because consumer research shows that the competitive product is gaining a reputation for causing cars to knock and shake belong?

In the Jaguar marketing plan, a statement that brand's goal for the upcoming year is to increase its share of the luxury car market in Canada from 10.5% to 11.7%  is a

If the goal of increasing Jaguar's market share from 10.5% to 11.7% is to be achieved by appealing to existing luxury car purchasers with more advertising and more follow-up service than in the past, Jaguar is pursuing what type of strategy according to the product-market growth matrix?

If the goal of increasing Jaguar's market share from 10.5% to 11.7% is to be achieved by appealing to people who have not purchased a luxury car before, Jaguar is pursuing what type of strategy according to the product-market growth matrix?

The conditions that most firms face today when they are developing their marketing plans include

For Jaguar, product strategy involves making decisions about

For Petro-Canada, distribution strategy includes dealing with the

Companies that operate in the same market typically use and emphasize

The development of the marketing plan is the responsibility of